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IMF says Zimbabwe should clarify that use of mono-currency will be limited to domestic transactions only

“In the context of the requested SMP, IMF staff stands ready to resume discussions in due course once decisive steps have been taken by authorities to address the key policy issues highlighted by the mission.

“International reengagement remains critical for debt resolution and arrears clearance, which would open the door for access to external financing. In this context, the authorities’ reengagement efforts, through the Structured Dialogue Platform, are key for attaining debt sustainability and gaining access to concessional external financing.

“The IMF maintains an active engagement with Zimbabwe and continues to provide policy advice and extensive technical assistance in the areas of revenue mobilization, expenditure control, financial supervision, debt management, economic governance, as well as macroeconomic statistics. However, the IMF is currently precluded from providing financial support to Zimbabwe due to its unsustainable debt situation—based on the IMF’s Debt Sustainability Analysis (DSA)—and official external arrears. An IMF financial arrangement would require a clear path to comprehensive restructuring of Zimbabwe’s external debt, including the clearance of arrears and a reform plan that is consistent with durably restoring macroeconomic stability; enhancing inclusive growth; lowering poverty; and strengthening economic governance.

“IMF staff held meetings with His Excellency President Emmerson Mnangagwa; Minister of Finance, Economic Development and Investment Promotion Honorable Professor Mthuli Ncube, his Deputy Minister of Finance, Economic Development and Investment Promotion Honorable David Mnangagwa and his Permanent Secretary Mr. George Guvamatanga; Reserve Bank of Zimbabwe Governor Dr. John Mushayavanhu; Mr. Willard Manungo, Deputy Chief Secretary to the President and Cabinet; other senior government and RBZ officials; honorable members of Parliament; and representatives of the private sector, civil society, and Zimbabwe’s development partners.

“The IMF staff would like to thank the Zimbabwean authorities and other stakeholders for constructive discussions and support during the 2025 Article IV consultation process.”

 

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Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

View Comments

  • Stay Smashin
    To Zimbabwe Central Bank a great strategy to get the international community and your locals to believe in the Zim Currency completely is to accept ALL forms of your currency again for a specific period of time such as the Zim Dollar, RTGS and the Zig which will show everyone that you’re willing to honor what was before before moving forward to one sole currency. Your country has all the resources needed to be successful and I believe you can and will be. Please consider recollecting all the notes for Zimbabwe and see what success that brings!

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